China moves quickly in bid to counter sharp slowdown in economy

Chinese officials have reacted quickly to a sharp slowdown in growth at the world’s second largest economy, promising that it remained strong despite an escalating trade war with the US.

The intervention on Friday by the vice-premier, Liu He, and the central bank governor gave China’s leading stock market a brief respite from six months of tumbling shares that have sliced more than a third from the value of Shanghai-listed companies.